CREDIT AGRICOLE SA: BNP Paribas Securities Services and CACEIS plan to create a new specialist provider of issuer services
18 März 2022 - 8:00AM
CREDIT AGRICOLE SA: BNP Paribas Securities Services and CACEIS plan
to create a new specialist provider of issuer services
Paris, 18 March 2022
PRESS RELEASE
BNP Paribas Securities Services and CACEIS plan to
create a new specialist
provider of issuer
services
BNP Paribas Securities Services and CACEIS have
signed a draft agreement to combine their issuer services in a
joint venture owned equally by the two banks.
The two groups intend to create a leading
provider of services to share issuers. This would cover operational
services such as shareholder recordkeeping, organising and
centralising general meetings, setting-up and centralising
financial operations, and managing employee shareholding plans.
This partnership would mark an important step in
the development of services to corporate clients, allowing BNP
Paribas Securities Services and CACEIS to pool their investments
and offer this clientele a renewed and enhanced service offer.
Patrick Colle, General
Manager of BNP Paribas Securities Services,
said: "We are delighted with this plan to join forces with
CACEIS to create a leading service provider dedicated to share
issuers. In a complex and constantly changing environment,
securities issuers need evolving services. This ambitious project
underlines our commitment to our issuer clients."
Jean-François Abadie, Chief Executive
Officer of CACEIS, commented: “This agreement illustrates
our ability to develop strong industrial partnerships allowing the
creation of leaders in our business lines. Our joint venture with
BNP Paribas Securities Services will create a major player in
issuer services and provide clients with a broad range of products
meeting the highest market standards."
The transaction is scheduled to complete at the
end of 2022 subject to the required consultations, and the
authorisation of the various competition and regulatory
authorities. Issuer services will continue to be provided
separately by BNP Paribas Securities Services and CACEIS, until the
operational start of the joint venture.
This draft agreement covers the specialised area
of issuer services. Other service offerings of BNP Paribas
Securities Services and CACEIS are not affected.
-Ends-
Press Contacts
BNP Paribas Securities ServicesCaroline Lumley
caroline.lumley@uk.bnpparibas.com +44 (0)20 7410 4650
CACEISClaude Michaux claude.michaux@caceis.com
+352 47 67 27 92
About BNP Paribas Securities
Services
(securities.cib.bnpparibas)
BNP Paribas Securities Services, a wholly owned
subsidiary of the BNP Paribas Group, is a leading global custodian
and securities services provider. Backed by the strength of the BNP
Paribas Group, we provide multi-asset post-trade and asset
servicing solutions for buy and sell-side market participants,
corporates and issuers. With a global reach covering 90+ markets,
our network is one of the most extensive in the industry, enabling
clients to maximise their investment opportunities worldwide.
About CACEIS
(www.caceis.com)
CACEIS is a banking group, jointly owned by Crédit Agricole and
Santander, and specialised in financial services for asset
management companies, insurance companies, pension funds, banks,
private equity and real estate funds, brokers and large
companies.
CACEIS is present in Europe, North America, South America and
Asia, and offers a full range of products and services: execution,
clearing, foreign exchange, securities lending, custody, depositary
and fund administration, fund distribution support, middle-office
solutions, and issuer services.
The information contained within this document (‘information’)
is believed to be reliable but BNP Paribas Securities Services does
not warrant its completeness or accuracy. Opinions and estimates
contained herein constitute BNP Paribas Securities Services’
judgment and are subject to change without notice. BNP Paribas
Securities Services and its subsidiaries shall not be liable for
any errors, omissions or opinions contained within this document.
This material is not intended as an offer or solicitation for the
purchase or sale of any financial instrument. For the avoidance of
doubt, any information contained within this document will not form
an agreement between parties. Additional information is available
on request.
BNP Paribas Securities Services is incorporated in France as a
Partnership Limited by Shares and is authorised and supervised by
the European Central Bank (ECB), the ACPR (Autorité de Contrôle
Prudentiel et de Résolution) and the AMF (Autorité des Marchés
Financiers).
In the UK, BNP Paribas Securities Services is authorised and
regulated by the European Central Bank and the Autorité de Contrôle
Prudentiel et de Résolution. Deemed authorised by the Prudential
Regulation Authority and with deemed variation of permission.
Subject to regulation by the Financial Conduct Authority and
limited regulation by the Prudential Regulation Authority. Details
of the Temporary Permissions Regime, which allows EEA-based firms
to operate in the UK for a limited period while seeking full
authorisation, are available on the Financial Conduct Authority’s
website. BNP Paribas Securities Services London Branch is
registered in the UK under number FC023666. UK establishment
number: BR006393. UK establishment office address: 10 Harewood
Avenue, London NW1 6AA.
In the U.S., BNP Paribas Securities Services is a business line
of BNP Paribas which is incorporated in France with limited
liability. Services provided under this business line,
including the services described in this document, if offered in
the U.S., are offered through BNP Paribas acting through its New
York Branch (which is duly authorised and licensed by the State of
New York Department of Financial Services) or BNP Paribas Financial
Services LLC, a limited liability company organised under the laws
of the State of Delaware; if a securities product, through BNP
Paribas Securities Corp. which is a broker-dealer registered with
the Securities and Exchange Commission and a member of SIPC and the
Financial Industry Regulatory Authority; or if a futures product
through BNP Paribas Securities Corp., a Futures Commission Merchant
registered with the Commodities Futures Trading Commission and a
member of the National Futures Association
- 2022 03 18 (EN) Projet JV BPSS CACEIS
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